While China growth slows, cash-hungry firms steer Asia IPOs into fast lane
As the world absorbs life with a slowing Chinese economy, business is brisk for one group – Asia’s bankers, handling a burst of stock listings by mainland firms that need funds now and are resigned to their shares being worth less than before.
Though initial public offering valuations may be cheaper, the pace of deals is accelerating. A Reuters review of upcoming deals showed an estimated $17 billion for IPOs due for the last two months of the year in Asia, with a near-doubling of Hong Kong deals after China growth jitters cast a third-quarter pall.
